Updated Jun 23, 2025 23:33 IST
Iran-Israel War: Around one-fifth of the daily oil supply of the world transits through the Strait of Hormuz, located between Iran and its Gulf Arab neighbours like Saudi Arabia.
US strikes on three main nuclear facilities of Iran have come at a precarious time for the global economy, and the future economic outlook largely depends on the intensity of retaliation by the Islamic Republic.
Global economic vulnerabilities
Leading international financial organizations, including the World Bank, the Organization for Economic Cooperation and Development (OECD), and the International Monetary Fund (IMF), have downgraded their global growth projections in the recent months. Any substantial increase in oil or natural gas prices, or disruptions to trade stemming from an escalation of the Israel-Iran conflict, would further hinder the world economy, reported…
